Algeria’s Trade Deficit Increases in H1 2019
Algeria’s trade deficit amounted to $3.18 billion during the H1 of 2019 against $2.84 billion during the same period of 2018, official data showed on Tuesday.
Algerian exports totaled $18.96 billion during H1 2019 compared to $20.29 billion during the same period in 2018, down 6.57 percent.
Meanwhile, imports fell to$22.14 billion compared to$23.14 billion, down 4.3 percent, according to figures provided by the Algerian Customs' Department of Studies and Prospects.
France has topped the list of Algerian export customers with exports worth $2.66 billion, followed by Italy with $2.5 billion dollars and Spain with $2.26 billion.
China, however, remained the top exporter to Algeria with exports worth $4.2 billion, followed by France with $2.14 billion, and Spain with $1.68 billion.
Fuel exports, which accounted for 93.1 percent of the total exports, amounted to $17.65 billion, a decrease of 6.31 percent compared to $18.84 billion during the same period of 2018. While other exports fell 10.01 percent to $1.31 billion.
As for imports, five out of seven product groups included in the import division have decreased during H1 2019 compared to the same period last year.
The energy and fuel group's import bill fell 62.22 percent to $275.51 million from $729.32 million during the same period.
And the imported food bill was estimated at $4.13 billion, compared with $4.61 billion, a decline of 10.52 percent
A report published by the Algerian news agency (APS) a few days ago reported that Algeria’s food import bill fell by more than $480 million in 2019’s first half.
It explained that this fall is mainly due to the decline in the import of cereals, milk and its derivatives, sugar, residues, and waste products of the food industry and others.
Last week, the Algerian National Office of Statistics revealed in a report that Algeria's economy has achieved an annual growth of 1.4 percent in 2018, compared to 1.3 percent in 2017.
In a publication on economic accounts from 2015 to 2018, it showed that the growth index remains “positive” despite the economic context characterized by a current account deficit in the balance of payments, low exchange reserves and a decline in the level of growth in the non-fuel sector.
The growth rate of non-fuel GDP has amounted to 3.3 percent in 2018, compared to 2.1 percent in 2017, indicating “a good performance,” the Office added.
Economic growth has witnessed a five percent increase in the agriculture sector, 5.2 percent in public works, construction, and irrigation, including petroleum public works, and a 4.1 percent increase in industry.